We’ll Support Growth Of Nigerian Market – RMB

We’ll Support Growth Of Nigerian Market – RMB

Rand Merchant Bank, a South African Investment Bank, has said that it will channel its activities towards deepening the Nigerian capital market.

The Chief Executive Officer, RMB Nigeria Michael Larbie, said this at the official inauguration of the bank in Nigeria on Thursday.

Speaking on the Nigerian Stock Exchange, he said, “We hope to support the objectives of this market to increase its volume and market capitalisation and we would be part of this market many years to come. Our track record and long-standing partnerships are a proof of our capabilities and appetite for business in Africa.

“Our knowledge of local financing requirements, legal and jurisdictional framework, together with the expertise and balance sheet of FirstRand, enables us to serve the rapidly expanding Nigerian economy.

“We have been doing business in many other parts of Africa. Many infrastructure developmental projects, cross-border transactions and property and structured finance deals in over 30 countries have been completed over the past two decades.RMB is a division of FirstRand Limited South Africa’s largest banking group, operating in Nigeria since 2012 but through a representative office.

Larbie expressed the readiness of the bank to invest massively in the capital market, in the areas of equity merchant, fixed income trading and corporate lending.

He said, “RMB Nigeria provides full spectrum of investment banking services to all industries, including corporate advisory, equity capital markets, infrastructure and project finance. We have our balance sheet and we can tap into our mother company with regard to balance sheet to lend if needed. We would push the market and we will be connected to trading.”

Group Chief Executive Officer, RMB, Mr. Alan Pullinger, said that although the bank was not ready to list on the Nigerian Stock Exchange, it was prepared to support its clients.

He said, “At the moment, we hope to support a number of our clients who either want to list their shares on the market or want to expand their activities in the equities as well as the debt markets.

“We are ready to do that and we are also going to develop new products to support the growth and liquidity of the Nigerian market.”

Source: Naij.com

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